UBS Group Issues Pessimistic Forecast for Micron Technology (NASDAQ:MU) Stock Price

Micron Technology (NASDAQ:MU - Free Report) had its price target decreased by UBS Group from $130.00 to $92.00 in a research note issued to investors on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the semiconductor manufacturer's stock.

A number of other research firms also recently commented on MU. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Wedbush restated an "outperform" rating and issued a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Barclays decreased their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Rosenblatt Securities dropped their price target on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.04.

Micron Technology Stock Performance

NASDAQ MU traded up $2.95 during trading hours on Monday, hitting $80.72. 18,886,755 shares of the stock were exchanged, compared to its average volume of 23,295,407. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market cap of $90.21 billion, a price-to-earnings ratio of 23.26 and a beta of 1.18. Micron Technology has a 12-month low of $61.54 and a 12-month high of $157.54. The stock has a 50-day moving average of $83.63 and a 200 day moving average of $94.00.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the business posted $0.42 EPS. The company's revenue for the quarter was up 38.2% on a year-over-year basis. As a group, equities research analysts forecast that Micron Technology will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.57%. Micron Technology's payout ratio is 11.03%.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the fourth quarter worth about $26,000. Beacon Capital Management LLC increased its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at approximately $33,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the 1st quarter valued at approximately $33,000. Finally, Activest Wealth Management grew its position in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.